Arvind Ltd. looks bullish. It is has formed Cup and Handle pattern in 1 week chart. If it gives the breakout it can reach to 300. Keep watching it.
Note: Please do your own research before investing.
After an all time high breakout the stock went into a 5week consolidation and 14%range and broke out last week.
If we observe monthly chart i usually like stocks who consolidate near the resistance and then break out. But as you can see a rally of almost 95% in 5 months was done.(Highlighted Area) The stock broke the ATH with out consolidating much which losses...
#Arvind
CMP ₹ 170.65
ARVIND LTD is a textile company whose products are finished fabrics and garments. It's one of the largest denim manufacturers in the world. Fundamentals are not so good but technically it's looking good. Stock is nearly it's 52 week high and it also gained more than 20% in this month itself and also gained highest recovery from 52 months ....
Arvind Ltd Near multi Year breakout , its an potential upside candidate for an month.
It will test the 52 Week High and Breakout with volume or It will form an Double Top
But if the breakout is successsfull with heavy volume the it will got to Target 270+
Disclaimer: This stock idea is only for educational & research purposes and is in no way a professional...
There is a breakout given by ARVIND from cup & handle formation on the weekly chart and it has been retested today on breakout zone on the daily chart also. So, I think we can see more upside levels on this counter.
Breakout Zone is :- 81.35-84.50.
Targets :- 96-110-120
Support zone is around :- 75.00. Stop loss as per risk appetite.
Arvind Ltd
NSE:ARVIND
Cmp - 88
Stop - 60 on DCB
Expectation -
T1 - 150
T2 - 400, Review at 150
Expected Holding Period - 120 trading days or earlier for T1
View:- Positional/Investment
Disclaimer:-
Ideas being shared only for educational purpose
Please do your own research or consult your financial advisor before investing
FIBO RETRACEMENT DONE IN WEEKLY CHART <<
UPPER LEVELS EXPECTED WITHIN 3 TO 4 DAYS >>
CAN MOVE UP TILL 84-85<SHORT TERM VIEW {WITHIN 10 DAYS , MAYBE}
TARGETS BEYOND CAN BE SEEN IN A SHORT TIME PHASE
Short Arvind below 404. Stock has broken a uptrend and will continue it's main trend which was down. An hourly candle closing below 404 will confirm break. You can short it then target of 385 with stop loss at 410. Just look for an hourly candle closing below 404 and then enter.
